Report: Jamie Vardy to reject Arsenal in favour of Leicester City stay

Leicester City striker Jamie Vardy is close to turning down a move to Arsenal this summer, according to reports.

The Gunners have triggered a £20m release clause in the England international's contract after his 24 Premier League goals last season helped to fire Leicester to the title.

Reports have claimed that Arsenal have verbally agreed a three-year deal worth £120,000 a week with the 29-year-old striker, who is expected to wait until the end of Euro 2016 to make a final decision.

However, the Evening Standard claims that Vardy is now leaning towards rejecting the Gunners' approach in favour of staying with the newly-crowned champions.

The Foxes are expected to offer Vardy a new £100,000-a-week deal themselves in an attempt to entice him to stay at the King Power Stadium as they prepare for a maiden Champions League campaign next season.